[CRYPTO HELP]Need help in what to do next after being scammed $6k crypto(TAXES?!)

Someone tricked me into transferring my crypto to an app called trust wallet. They then got not my trust wallet and transferred it out which means they basically stole it. If they transferred it out does that sound as a taxable event? I’m afraid it is not a taxable event and they will sell it at a higher price which means I need to pay more taxes. Please help I’m freaking out


The content was posted by redditorrheart on 2021-10-13 08:05:59 via reddit

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7 Comments

  1. Goflyakitescammers says:

    Now you also need to watch out for !recovery agents/hackers. They are a scam as well. They can’t get your money back, no matter what they say or how much you pay them

  2. SniffOfAnOilyRag says:

    The transferred money isn’t yours any more so you’re not liable for any taxes regardless of what the scammer does with it. There’s no way of knowing what they’ve done with it anyway.

    You may be able to declare the 6k as a loss of some sort, not really as a theft but as money you’ve given away to someone else, but as for what happens to it after that is not your responsibility.

  3. Andrew976T27 says:

    If someone hacked my 403B account and took a few hundred thousand I would not be liable for taxes.

  4. This crypto scam seems to be growing.

  5. I think you should post the scenario on /r/tax just to be safe. Tax issues related to crypto transactions are complex and can be somewhat counterintuitive so talking to someone there may help set your mind at ease. I’m sorry for your loss!

  6. As long as you weren’t showing gains from a legitimate trading platform, linked to your full name and Social Security #, then it’s not going to be reported to the IRS. Since it was stolen from a crypto wallet ( which it sounds like was on a fake website set up by the scammer) it’s probably in someone’s bank account by now and they’re out buying stuff or paying bills with it. They’d have to set up an actual investment account with your name and Social Security # for any future gains to be traced back to you, and even then you could report as identity theft. I’m very sorry you lost your money, but there’s no need to stress further about taxes.

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